Green premium in the primary and secondary us municipal bond markets

Abstract

green bond pricing: the search for greenium candace partridge and francesca romana medda aq2 aq1 candace partridge is ?? at the institute of finance and technology, university college london, gower street, london, uk. candace.partridge@ucl.ac.uk francesca romana medda is ?? at the institute of finance and technology, university college london, gower street, london, uk. email? aq2 aq3 *all articles are now categorized by topics and subtopics. view at pm-research.com. summer 2020 aq4 key findings • xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx. • xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx. • xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx. abstract: green bonds are a novel way to help unlock finance for investment in sustainable development. some issuers and investors are watching this market with keen interest to see whether a green premium—or “greenium”—arises. the current consensus in the literature is that there is a detectable greenium in the secondary markets for corporate and us municipal bonds, but evidence for a greenium at issue is more difficult to detect. the authors provide a summary of the pricing literature and a description of their green municipal bond pricing analyses and then unpack these findings and offer an explanation as to why there …

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